Coca-Cola Q2 volumes up 3%:

Competition from healthier, functional drinks in urban markets and low discretionary spending in rural areas also impacted sales, an industry official close to the company said.ETRetail | July 28, 2016, 19:08 IST

New Delhi: Beverage maker Coca-Cola India posted 3% year-on-year unit case volume growth in the April-June 2016 quarter, its Atlanta-based parent announced. Despite extreme heat, sales remained lack-lustre as consumers didn’t step out to shop which impacted impulse buys. Competition from healthier, functional drinks in urban markets and low discretionary spending in rural areas also impacted sales, an industry official close to the company said. The second quarter is peak season for soft drink firms, contributing close to half of annual sales.

Coca-Cola chairman Muhtar Kent said in a statement: “Strong performance in some of our largest and most developed markets, including the US and Japan, was offset by difficult external conditions in many emerging and developing markets. These factors combined to put pressure on our volume and top-line performance in the quarter, especially where we own bottling businesses.”

Kent said that in international operations where external headwinds have proven to be more severe than originally forecast, the maker of Coca-Cola and Sprite is “taking action by reassessing local market initiatives where needed”.

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